OXFORD NANOPORE TECHNOLOGIES PLC
Company number: 05386273
Reporting period:
1 July 2021 to 31 December 2021
Report filed on:
2 August 2023
Approved by:
Tim Cowper
Payment statistics
Average time taken to pay invoices: 41 days
Invoices paid:
- within 30 days: 41%
- in 31 to 60 days: 43%
- in 61 days or more: 15%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 62%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
90 days
Standard payment terms
Payment terms will vary based on the suppliers requirements and our commercial relationship. We are working towards ensuring that all smaller organisations have improved payment terms to ensure that they are paid promptly for the valuable services they provide to Oxford Nanopore
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
90 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
"All invoices should be submitted to the accounts team (accounts@nanoporetech.com) and must include a valid purchase order number, a description of the goods and/or services delivered and the relevant quantities and values involved.
Any payment disputes that are unable to be resolved by a suppliers main contact at Oxford Nanopore Technologies or the accounts payable team, should be directed to the procurement team (procurement@nanoporetech.com). The procurement team will liaise with legal, finance and responsible departments within Oxford Nanopore Technologies and include the supplier within these discussions as appropriate. The procurement team will look to respond to all queries within 1 week of receiving a dispute. Final resolution will depend on the complexity of the issue raised."
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
No
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No